Lowe’s is closing 51 stores in the US and Canada

Lowe’s is closing 51 stores in the US and Canada

In another sign of the times for retail, Lowe’s is closing 51 North American stores.

The home improvement chain said Monday that locations are underperforming and the decision will help the hardware chain focus on its most profitable stores and “improve the overall health of its store portfolio.”

Lowe’s (LOW) is shutting down 20 stores in the US and 31 in Canada. The company said that a “majority” of the shuttered stores are within 10 miles of another Lowe’s location.

The stores will be closed before Feb. 1, 2019. The company will try to find jobs at nearby stores for its employees affected by the closings.

“We believe our people are the foundation of our business and essential to our future growth,” said CEO Marvin R. Ellison.